SharpLink Gaming made a massive move last week with a $252 million Ethereum purchase. The Minneapolis-based company now holds 797,704 ETH tokens worth approximately $3.7 billion.
The gaming company acquired 56,533 ETH at an average price of $4,462 per token. This latest purchase shows the firm’s commitment to its cryptocurrency treasury strategy launched in June.
NEW: SharpLink acquired 56,533 ETH at ~$4,462. As of 8/26/2025 we hold 797,704 ETH valued at ~$3.7B
Key Highlights for the Week Ending August 24, 2025:
• $360.9M in net proceeds were raised through the ATM facility this past week.
• Total staking rewards rose to 1,799 ETH… pic.twitter.com/Kb4AKulf6f— SharpLink (SBET) (@SharpLinkGaming) August 26, 2025
SharpLink raised $360.9 million through its at-the-market equity program to fund the purchase. The company maintains $200 million in cash reserves for future ETH acquisitions.
Co-CEO Joseph Chalom said the execution shows “the strength of our vision.” He emphasized the company’s focus on building long-term shareholder value while supporting the Ethereum ecosystem.
The company has rapidly scaled its ETH holdings since June. Over four weeks, SharpLink increased its position from 438,000 ETH to nearly 800,000 ETH.
This makes SharpLink one of the largest corporate holders of Ethereum globally. The rapid accumulation puts the company in a unique position in the crypto space.
SharpLink has earned 1,799 ETH in staking rewards since launching its treasury strategy. The passive income adds to the company’s growing crypto portfolio.
The firm introduced a new metric called “ETH Concentration.” This measures ETH holdings per 1,000 assumed diluted shares outstanding.
That figure now stands above 4.0, more than doubling since June. The metric helps investors track the company’s crypto exposure relative to share count.
The staking rewards provide additional income beyond price appreciation. This creates multiple revenue streams from the ETH treasury holdings.
SharpLink’s board approved a $1.5 billion stock buyback program. The plan aims to enhance shareholder value while the company continues its crypto deployment.
The buyback provides a dual approach to returning value. Shareholders benefit from both Ethereum price appreciation and share count reduction.
SBET stock closed Monday at $0.96, down 6.8% for the day. After-hours trading showed slight recovery following the ETH purchase announcement.
The stock has gained 150% year-to-date despite recent volatility. Traditional valuation metrics don’t apply as SharpLink operates as a leveraged Ethereum play.
Some analysts believe the stock could reach $40 if market conditions align. This would require Ethereum to climb to $6,000-$7,000 levels consistent with previous bull runs.
SharpLink offers regulated exposure to Ethereum for institutional buyers. Pension funds and insurers seeking crypto exposure face limited options through traditional exchanges.
The company benefits from unique positioning in the crypto space. Chairman Joseph Lubin’s connection to Ethereum’s founding team provides strategic advantages.
Risk factors remain substantial for SBET investors. Sharp crypto market declines would immediately impact the investment thesis.
Government policy changes pose regulatory risks. New corporate crypto taxes or tighter rules could create major headwinds.
SharpLink currently holds $200 million in cash for additional ETH purchases while maintaining its $1.5 billion buyback authorization.
The post SharpLink Gaming (SBET) Stock: Analysts Predict $40 Target as ETH Reserves Pass 800K appeared first on CoinCentral.
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